Do asset prices in transition countries contain information about future economic activity? /

Do asset prices in transition countries contain information about future economic activity? /

Saved in:

Bibliographic Details
Author / Creator:	Christoffersen, Peter F.
Imprint:	Washington, D.C. : International Monetary Fund, ©2000.
Description:	1 online resource (25 pages) : illustrations
Language:	English
Series:	IMF working paper ; WP/00/103 IMF working paper ; WP/00/103.
Subject:	Stocks -- Prices -- Europe, Eastern. Banks and banking -- Europe, Eastern. Capital market -- Europe, Eastern. Banks and banking. Capital market. Stocks -- Prices. Eastern Europe.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12497216

Hidden Bibliographic Details
Other authors / contributors:	Sløk, Torsten. International Monetary Fund. Research Department.
ISBN:	1281155810 9781281155818
Notes:	Includes bibliographical references (pages 23-25). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
Summary:	The purpose of this paper is to assess if the prices observed in stock, money, and foreign exchange markets in transition countries contain information about future real economic activity. This is investigated in three different empirical analyses, examining if stock prices, short term interest rates, and the exchange rate signal future movements in industrial production, unemployment, and real wages. The conclusion is that asset prices do contain information about future movements in real variables, and in particular it is found that asset prices significantly signal future movements in industrial production. These results have important implications for policymakers in transition countries and a composite leading indicator based on the stock price, the interest rate, and the exchange rate is suggested which can yield information about future developments in real activity.
Other form:	Print version: Christoffersen, Peter F. Do asset prices in transition countries contain information about future economic activity?. Washington, D.C. : International Monetary Fund, ©2000

Description
Summary:	The purpose of this paper is to assess if the prices observed in stock, money, and foreign exchange markets in transition countries contain information about future real economic activity. This is investigated in three different empirical analyses, examining if stock prices, short term interest rates, and the exchange rate signal future movements in industrial production, unemployment, and real wages. The conclusion is that asset prices do contain information about future movements in real variables, and in particular it is found that asset prices significantly signal future movements in industrial production. These results have important implications for policymakers in transition countries and a composite leading indicator based on the stock price, the interest rate, and the exchange rate is suggested which can yield information about future developments in real activity.
Physical Description:	1 online resource (25 pages) : illustrations
Format:	Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Bibliography:	Includes bibliographical references (pages 23-25).
ISBN:	1281155810 9781281155818